Will Gold reverse from 6 months downtrend?

6 de out. de 2022

Gold has traded downwards since the end of March, however, what first looked like a break under important 1680 support of a double top pattern seems to be a false break with the price reversing very strongly from the 1615 low (1000 pips above at the time of writing in just a matter of days).
Now the price is trading confortable above this important level and above the 1700 figure and is testing the next important resistance given by this falling trendline.
A break above this trend line could lead to a long-term up trend and expose the 1800 zone.
That being said, I'm bullish as long as support holds.